Posted by 14 May 2014
Why New Businesses Should Incorporate PR
Exploring the relevance of PR to new business success
What is PR, how does it differ from advertising, and why is it relevant to my business? Just a few common questions surrounding the often neglected topic of PR- a misunderstood, but highly relevant aspect of successful business management.
Perhaps the most important factor of business growth is establishing a place in the market and getting your name known. This is especially true in the case of small businesses starting out, when raising awareness is paramount. New businesses are often strapped for cash and PR is probably the cheapest way to build and maintain relationships with publics, and make themselves known.
PR forms close alliances with journalists and other media, using press releases and expertly planned campaigns to gain publicity. It’s all about building brand identity and moulding public perceptions, by sending out carefully crafted messages in order to shape brand image, create positive awareness and successfully structure overall corporate identity.
One of the most important aspects of PR is public analysis. Anticipating and evaluating public opinion and identifying issues that may have a positive or negative effect on a business, in order to effectively manage those communications and maintain positive brand image and consumer confidence. PR works to deliver all-important messages through an array of platforms to a specifically established target audience. This is vital to small and new businesses when markets are so competitive.
It is the credibility factor that makes PR so effective. Having a journalist or reviewer to endorse the product is a lot more credible, and a lot less expensive than traditional advertising methods. This is especially important to new businesses, as PR allows you to build your company image and market presence by telling your story through third party endorsements, generally the media - this is so unique to PR as credibility cannot be replaced. People are a lot more likely to believe something told to them through a credible source than from purchased advertising space.
It’s also vital to be prepared for any unanticipated crises that could surface. A crisis can thrust a business into catastrophic disaster if not appropriately managed, with new businesses being especially vulnerable. Even more so with the on-going proliferation of mobile technology and social media platforms - messages are spreading faster than ever. PR is imperative to effective damage control when crises strike. It aids in ensuring brand image and reputation are maintained and consumer and stakeholder relationships are sustained.
PR can go a long way in ensuring the growth and success of your business. If you want to build strong and trusting relationships with your publics, and see your business featured in the news, PR should definitely be a strong consideration – especially for new businesses.